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Yangon to have 34-storey residential apartment

Posted on Nov 14, 03:35PM | IANS

A developer plans to build Yangon's tallest building - a 34-storey luxury apartment - by 2015 in Myanmar's main city, previously known as Rangoon.

The building, to be constructed near Inya Lake, will occupy a block that was formerly the industry ministry's towel factory at 2 U Htun Nyein street.

It will have 406 residential apartments, a spa, gym, mini-theatre, swimming pool and other amenities, Mizzima News reported.

Four penthouses on the top floor will have a panoramic view of Yangon.

The Mandalay Golden Wings Construction Company, developer of Yangon's largest mall, the Yadanapon Diamond Plaza, will execute the project.

Real estate prices in Myanmar have soared as developers anticipate onrush of foreign investors. Experts said the current industrial land prices could impact investment.